Bank of America Merrill Lynch announced on Monday the launch of its Dashboard Analytics module, which will help senior executives in more than 70 countries improve working capital, negotiate better supply terms and facilitate company travel compliance.
The module, which is available in 21 languages, uses data to process millions of transactions into a dashboard view.
“After personnel costs, travel is typically the second-largest expense companies can control, and as a result, CEOs and CFOs are constantly in search of ways to reduce travel expenditure,” Kevin Phalen, the head of global card and comprehensive payables in BofA Merrill’s global transaction services division, said. “Dashboard Analytics promises executives the ability to quickly pinpoint negative trends or non-adherence to company policy. The invaluable intelligence – that has a variety of detailed data – can help companies save on travel expenses and ultimately improve their working capital.”
The module allows users to see card activity over a certain time period of spend category, total spending or transaction count and changes in spending or transaction count. The system is supported by the bank’s web-based Global Reporting and Account Management reporting solution.